US heading for house price crash, Greenspan tells buyers

Thanks for finally saying what has been obvious for the last year or so. Do you think the folks who are still buying $600,000 condos with interest only loans are listening?

WALL STREET shuddered yesterday after Alan Greenspan, the United States’ central banker, warned American homebuyers that they risk a crash if they continue to drive property prices higher. He said that the US house-price spiral had become an economic imbalance, threatening stability like the country’s trade gap or its budget deficit.